Experts meet in Kenya to boost affordable housing in Africa

Real estate experts, investors and policymakers gathered in Kenya for the 13th annual East Africa Property Investment (EAPI) Summit to explore ways of accelerating affordable housing and sustainable urban development across Africa amid rapid urbanization and growing demand for quality homes.

The two-day summit, held from May 13 to 14 in Nairobi, brought together international and domestic investors, developers, financiers and hospitality stakeholders under the theme “Re-newed Momentum,” seeking to unlock fresh capital and strengthen partnerships to support resilient real estate growth.Organizers said the annual summit, regarded as East Africa’s premier real estate and hospitality gathering, aims to connect institutional investors with decision-makers in the sector at a time when demand for affordable housing continues to outpace supply in many African countries.

Speaking at the summit, Raghav Gandhi, chief executive officer of Africa Logistics Properties (ALP), said East Africa’s property market is entering a new phase marked by institutional investment and confidence in proven developers.“East Africa’s real estate sector is entering a defining phase of institutionalization. Capital is increasingly flowing toward proven platforms with the capability to deliver at scale,” Gandhi said.He added that growing urbanization, expansion in regional trade and the maturation of capital markets are strengthening confidence in East Africa’s long-term economic fundamentals.

Affordable housing emerged as a major focus during the summit, particularly in Kenya, where the housing deficit is estimated at more than two million units.Industry estimates indicate the country requires the construction of about 250,000 housing units annually, yet combined efforts by the private sector and government currently meet only about 20 percent of the demand, presenting significant investment opportunities for developers.

Samuel Kariuki, chief executive officer of Mi Vida Homes, said the company is seeking to scale up delivery of affordable homes to address the widening housing gap in the region.“Our vision is clear: to build a 10,000-unit pipeline of accessible, value-driven real estate,” Kariuki said, noting that the developer has already delivered a pipeline of 3,538 housing units, including 715 completed and handed over, while 808 more units are under construction.“We are a business defined by delivery to promise,” he added.Participants at the summit emphasized the need for resilient and environmentally sustainable developments to support rapidly growing cities across East Africa.

Niyi Adeyele, head of real estate for Africa Regions at Stanbic Bank, said urban expansion presents both opportunities and challenges that require long-term planning and investment.“East Africa’s cities are growing rapidly, and their prosperity belongs to developments that are future-proof,” Adeyele said, adding that the EAPI Summit continues to improve the quality of dialogue and investment decisions shaping the region’s built environment.

Experts said stronger collaboration between governments, financiers and private developers will be crucial in closing Africa’s housing deficit while promoting inclusive and sustainable urban growth.